August 27, 1999

Clyde Haberman NYC column on hatemongering and threats by Khallid Abdul Muhammad, and standoff with New York City Mayor Giuliani over permit for 1999 Million Youth March; says despite Muhammad's obvious media posturing, there are real public safety issues; says boycott supported by black leaders like Repr Charles B Rangel would allow Muhammad to exercise his freedom of speech and the people of Harlem their right to ignore him (M)

American Home Products Corp, after several years of litigation, agrees to offer cash settlements to about 36,000 women who contend that they had not been adequately warned about possible side effects of company's Norplant contraceptive; Turner W Branch, one of lead lawyers for plaintiffs, says that under terms of settlement, American Home Products is expected to pay out at least $50 million; says women who choose to settle will receive $1,500 each (M)

Securities and Exchange Commission is investigating whether on-line brokerage firms and day-trading houses and their customers abide by regulations governing selling of stocks short, a bet that prices will fall; one former day trader who has told his story to regulators says firm he was associated with used system to circumvent short-selling rules and estimated that illegal short sales accounted for as much as 30 percent of sales at one office while he was a customer; Gomez Advisors says number of on-line brokerage firms stood at 140 in June, up from 100 six months earlier; adds number of on-line brokerage accounts is expected to reach 10.5 million by end of 1999, up from 7.1 million in 1998; regulators have grown increasingly concerned that some on-line firms are not fully enforcing securities regulations (M)

Flooding from torrential rains during early morning rush hour cripples New York City transit system; subway service into Manhattan is virtually halted, and the few lines running, as well as buses, are jammed and delayed; finding a cab is nearly impossible, and walking becomes most reliable way to travel in Manhattan; photos (M)

For three decades, New York City officials have struggled to find a way to develop Arverne neighborhood in the Rockaways, a vast expanse of beachfront land in Queens that has lain fallow since its bungalows were cleared as part of urban renewal of late 1950's and early 1960's; now, development is finally beginning with construction of 40 two-family homes by builder Briarwood Organization; housing will be subsidized under Urban Development Action Assistance Program; map; photo (M)